Acquisition of Oil & Gas Machining Company in France by Bharat Forge Ltd

Mumbai: Bharat Forge Limited is pleased to announce that it’s German Subsidiary; CDP Bharat Forge GmbH, has acquired 100% equity shares of Mécanique Générale Langroise (MGL). MGL based in Saint Goesmes, France is a strong technology oriented company focused on  precision  machining  and  other  high  value  added  processes  like  cladding  for  critical application  in  the  Oil  &  Gas  industry.  MGL  supplies  turnkey  components  for  drilling application like Blow out Preventers (BoP), Surface & sub-sea well heads in addition to components for power sector. MGL  primarily  caters  to  premium  global  Oil  &  Gas  customers,  all  of  whom  are  already customers of BFL. The transaction value is EUR 11.8 million.  This acquisition is largely focused on further consolidating BFL position in the Oil & Gas space  by  enhancing  service  offerings  and  geographical  reach.  This  also  brings  BFL closer  to  its  customers  and  increases  the  value  addition  provided  to  them.    This  is  1st among  many  opportunities  we  are  looking  at  addressing  in  North  America,  North  Sea area & Middle East. Commenting  on  the  acquisition,  Mr.  Baba  N  Kalyani,  Chairman  and  Managing Director  of  Bharat  Forge  Ltd.,  said  “The  acquisition  of  MGL  is  in  line  with  our strategy of moving up the value chain in the industrial business. This acquisition enhances  BFL’s  ability  to  provide  turnkey  solution  and  simultaneously strengthens the product offering in the Oil & Gas sector”